Disclaimer: I hold. Seeing Machines put out an interesting announcement on Wednesday. Its convertible loan notes with Magna were due on 4 October, but they’ve only been extended to 30 November. Management says that buys time to negotiate a proper longer term deal. Not what investors were hoping for, and the 10% drop on the day said as much.
But look at the lower rejection wick, sitting right on previous support around 3.9p. Lots of volume traded, yet sellers couldn’t push the price any lower. That could be the line in the sand for buyers.
For me, the important thing is the underlying momentum. Automotive royalties jumped 135% last year, and EU rules have made driver monitoring mandatory in new cars since July. Provided that keeps up, I’d be very surprised if they can’t land a favourable extension in November.
But look at the lower rejection wick, sitting right on previous support around 3.9p. Lots of volume traded, yet sellers couldn’t push the price any lower. That could be the line in the sand for buyers.
For me, the important thing is the underlying momentum. Automotive royalties jumped 135% last year, and EU rules have made driver monitoring mandatory in new cars since July. Provided that keeps up, I’d be very surprised if they can’t land a favourable extension in November.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.